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On 11 December, Savills bought down the hammer on £62m of property in its final sale of the year, bringing the total raised over the year to £810 million – including post-auction sales.
This is the highest amount raised in the department’s history and a 42% increase on 2023.
The December sale featured Savills largest-ever catalogue for the month, with more than 190 residential, commercial, and mixed-use lots offered. The sale concluded with a 68% success rate, driven by notable interest in higher-value properties. Fourteen lots achieved sales exceeding £1m.
Robin Howeson, head of Savills auctions, said: “We are thrilled to have bought the hammer down on another record-breaking year for our auction business culminating in a total of £810m raised following our largest-ever December sale. These results are particularly phenomenal given the headwinds faced over the last 12 months, most notably the General Election and subsequent change in Government.
“[December’s] sale highlighted the buoyancy of the commercial and development markets, which accounted for nearly half of the day’s transactions. While the residential market showed slightly more hesitancy, we expect declining interest rates to boost sentiment in this sector in the new year.
“Over the year, we have brought over 3,3000 properties to the market across 16 auctions, which have been held across 25 individual days – a remarkable feat and a testament to the success of our online live-stream formula underpinned by the dedication and determination of our growing team.”
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